Analog Devices Reports Fiscal Q1 2026 Financial Results

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Analog Devices, Inc., a global semiconductor leader, announced financial results for its fiscal first quarter 2026, which ended January 31, 2026.

Highlights:​​​​​​​​​​​​​​

• Revenue of $3.16 billion, with year-over-year growth across all end markets, led by Industrial and Communications
• Operating cash flow of $5.1 billion and free cash flow of $4.6 billion on a trailing twelve-month basis or 43% and 39% of revenue, respectively
• Returned $1.0 billion to shareholders via dividends and share repurchases in the first quarter
• Raised quarterly dividend 11% to $1.10, marking twenty-two consecutive years of increases

“ADI’s robust first quarter built upon the strong position and momentum with which we entered the year,” said Vincent Roche, CEO and Chair. “Our success continues to be the result of relentless innovation to solve our customers toughest problems and deliver enduring business impact. Our investments in R&D and the customer experience from design to delivery continue to position us to create outstanding value for shareholders and customers alike.”

“During our first quarter, bookings growth continued, driven by broad strength in Industrial and record orders for our Data Center segment. While the macro and geopolitical backdrop remains challenging, our revenue outlook for the second quarter reflects a new high watermark for ADI, underscoring our strong execution against cyclical and secular growth tailwinds,” said Richard Puccio, CFO.

Outlook for the Second Quarter of Fiscal Year 2026

For the second quarter of fiscal 2026, we are forecasting revenue of $3.5 billion, +/- $100 million. At the midpoint of this revenue outlook, we expect reported operating margin of approximately 36.4%, +/-150 bps, and adjusted operating margin of approximately 47.5%, +/-100 bps. We are planning for reported EPS to be $2.19, +/-$0.15, and adjusted EPS to be $2.88, +/-$0.15.

Our second quarter fiscal 2026 outlook is based on current expectations and actual results may differ materially as a result of, among other things, the important factors discussed at the end of this release. The statements about our second quarter fiscal 2026 outlook supersede all prior statements regarding our business outlook set forth in prior ADI news releases, and ADI disclaims any obligation to update these forward-looking statements.

The adjusted results and adjusted anticipated results above are financial measures presented on a non-GAAP basis. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are provided in the financial tables included in this release. See also the “Non-GAAP Financial Information” section for additional information.

Dividend Payment

The ADI Board of Directors has declared a quarterly cash dividend of $1.10 per outstanding share of common stock. The dividend will be paid on March 17, 2026 to all shareholders of record at the close of business on March 3, 2026.